South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention back to the beach.

The developer, started 20 years ago by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success at Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms, whilst remaining compliant with the LMR controls.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments, as well as a full-time building manager's office and wellness facilities including a sauna and a gym.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just four full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach drew on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

awalsh-7Ub9EypybQ

Sunshine Coast land values down 5% last year, with Dicky Beach beating out Battery Hill as worst performer

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A four-townhouse complex at Robina – with an estimated $3 million worth and estimated $148,000 net annual return – is this year's RSL Art Union's annual Golden Treasure $10 lottery prize.
Ticket sales close on May 22, before the draw on May 30. The total number of tickets available for $10 each is 1.4 million.
"That will be a life-changing moment for someone,'' RSL Chief Executive Chris McHugh says.
"Some may choose to retire, living in the main residence while renting out the remaining three.
“You can rent out all of them and earn close to $150,000 per year, sell them each off individually or keep one or two for the extended family.
“It will set you up for life,'' McHugh says.
The main townhouse has four bedrooms each with en-suite, a study, two living areas, a gourmet kitchen, a pool and barbeque and a lift to reach all four levels.
The remaining buildings have three bedrooms plus a study, two bathrooms and another toilet. They all share a pool and barbecue.
The entire townhouse complex has an estimated $3 million value, plus $312,955 in furniture.
The RSL provides services for war veterans including housing, respite accommodation and a range of pension, advocacy and welfare services.
It paid $900,000 in early 2010 for the 2,300-square-metre holding.
Just along Andromeda Parade, it also bought a 2,300-square-metre vacant lot in early 2010 for $820,000, which will presumably be a future prize.
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jchancellor-FAypfDUnLy

RSL Art Union lottery prize turns Gold Coast Robina foursome townhouses into investor gold 

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Who said I don’t read my mail!  I might be a bit tardy in my replies.  OK, outright ignorant at times, but <a href="https://www.propertyobserver.com.au/queensland/despite-the-building-boost-10-fewer-houses-built-across-queensland-and-how-premier-newman-can-start-the-uptick-michael-matusik/2012050854616">our post last week</a> got a high proportion of direct email replies questioning the impact of Form 27c on commissions and the market in general.  A few poor souls think that Form 27c has no bearing on valuation.
For those who don’t know, sales commissions are fixed in Queensland at 5% on the first $18,000 and then 2.5% thereafter, plus GST.  It is “illegal” to charge the seller commission above this amount.
Form 27c – as I understand it – is simply a disclosure by the selling agent to the buyer of all fees or favours that are incurred as the result of a sale.  It discloses actual commissions paid, marketing fees/costs paid, management overriders, referrals paid and to whom; and even introductions to other parties (i.e. finance brokers, solicitors, etc) that could assist the buyer –  even if it was a verbal or written reference with no fees paid.   Any party to a real estate sale transaction must be identified, and the remuneration or otherwise identified.
I know it is agony reading such legal-speak but bear with me!
All agents charge the statutory maximum or less as the commission for the transaction.  A number of agents charge their marketing costs on a per transaction basis.  Most sellers of suburban residential real estate are either charged an advertising cost before sale, or some agents are happy to carry this cost on the basis they are paid from sale proceeds.  This can be a higher amount than a pre-sale advertising cost due to the risk to the agent of no sale. However, it’s a great benefit to the seller because they don’t pay unless they “get a result”.
In a buyer’s market, sellers should be budgeting on about 2% of the end sale price for presenting and promoting their property.
In fact, today the normal budget for a sales campaign (including commission, advertising and marketing costs) of a residential property, should be 5% to 6% of the likely sale price.  The commission element is 2.6% on a $500,000 i.e. $13,000.  It’s not hard to spend another $15,000 on marketing and all other costs of sale.
In short, valuers are NOT considering the normal costs of sale.  Too many think (or the banks/mortgage insurers think on their behalf) a property should sell without marketing.
For local property observers, yesterday Place released research showing 450 new apartments (totalling something like $230 million of sales) were reported sold during the March quarter.  Putting aside when these sales were actually made, what Place’s work doesn’t outline is the typical cost per sale.
Most high selling new apartment projects are incurring advertising and marketing costs of between $25,000 and $30,000 per apartment.   True, the smarter in the pack have lower costs per sale.  But most don’t.  In some instances promotional fees exceed $50,000 per apartment.
And it is only going to get more competitive if Place’s research rings true, as there are now 48 major apartment projects across inner Brisbane with a total of 2,100 new apartments for sale.  Importantly, 36 of these projects are either under construction or completed.  These apartments will need to be sold.
In short, Form 27c is a joke because it is now being wrongly used to determine valuations.  Its application does not reflect the current market conditions or how real estate business is really done.
If I want to spend $1 or $1million to market my property, how does this relate to the property value?
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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michaelmatusik-49YzLvdmNv

Marketing costs don’t reflect a property’s value, and Queensland’s form 27c is a joke

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Queensland Valuer-General Neil Bray says the Gold Coast City Council area’s land values have fallen by 8% overall since the last valuation in 2011.
Residential values continued to fall in most localities within the local government area, Bray says.
“Generally land values in the central coastal areas of Surfers Paradise and Broadbeach have declined in value by almost 50% since the 2008 peak,” he says.
Decisions on future planned construction projects along with weakening retail, industrial and tourism markets have had negative flow-on effects in spending and growth within the wider community, Bray notes.
Of the 73 localities in the Gold Coast City region, <a href="https://www.propertyobserver.com.au/queensland/the-43-worst-performing-gold-coast-localities-in-2011/2012032954070">43 went down in value</a>, 28 had no change in value and <a href="https://www.propertyobserver.com.au/queensland/the-only-two-gold-coast-suburbs-where-values-have-gone-up-in-2011/2012032954069">two increased in value</a>.
The area had an overall decrease in median values of 5.1%, from $247,500 to $235,000.
<table border="0" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="111">
Residential localities
</td>
<td valign="top" width="133">
Previous median value as at 1/10/2010 ($)
</td>
<td valign="top" width="139">
New median value as at 1/10/2011 ($)
</td>
<td valign="top" width="116">
Change in median value (%)
</td>
</tr>
<tr>
<td valign="top" width="111">
Advancetown
</td>
<td valign="top" width="133">
188,500
</td>
<td valign="top" width="139">
188,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Bonogin
</td>
<td valign="top" width="133">
242,500
</td>
<td valign="top" width="139">
242,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Broadbeach
</td>
<td valign="top" width="133">
590,000
</td>
<td valign="top" width="139">
590,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Burleigh Waters
</td>
<td valign="top" width="133">
285,000
</td>
<td valign="top" width="139">
285,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Coombabah
</td>
<td valign="top" width="133">
205,000
</td>
<td valign="top" width="139">
205,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Coomera
</td>
<td valign="top" width="133">
215,000
</td>
<td valign="top" width="139">
215,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Gaven
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Gilston
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Highland Park
</td>
<td valign="top" width="133">
212,500
</td>
<td valign="top" width="139">
212,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Hope Island
</td>
<td valign="top" width="133">
265,000
</td>
<td valign="top" width="139">
265,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Kingsholme
</td>
<td valign="top" width="133">
64,000
</td>
<td valign="top" width="139">
64,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Maudsland
</td>
<td valign="top" width="133">
185,000
</td>
<td valign="top" width="139">
185,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mermaid Beach
</td>
<td valign="top" width="133">
680,000
</td>
<td valign="top" width="139">
680,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mermaid Waters
</td>
<td valign="top" width="133">
330,000
</td>
<td valign="top" width="139">
330,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Merrimac
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mudgeeraba
</td>
<td valign="top" width="133">
230,000
</td>
<td valign="top" width="139">
230,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Nerang
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Oxenford
</td>
<td valign="top" width="133">
205,000
</td>
<td valign="top" width="139">
205,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Pacific Pines
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Pimpama
</td>
<td valign="top" width="133">
187,500
</td>
<td valign="top" width="139">
187,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Reedy Creek
</td>
<td valign="top" width="133">
242,500
</td>
<td valign="top" width="139">
242,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
South Stradbroke
</td>
<td valign="top" width="133">
405,000
</td>
<td valign="top" width="139">
405,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Tallai
</td>
<td valign="top" width="133">
237,500
</td>
<td valign="top" width="139">
237,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Upper Coomera
</td>
<td valign="top" width="133">
185,000
</td>
<td valign="top" width="139">
185,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Varsity Lakes
</td>
<td valign="top" width="133">
212,500
</td>
<td valign="top" width="139">
212,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Willow Vale
</td>
<td valign="top" width="133">
395,000
</td>
<td valign="top" width="139">
395,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Wongawallan
</td>
<td valign="top" width="133">
103,500
</td>
<td valign="top" width="139">
103,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Worongary
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
</tbody></table>
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Twenty-eight localities on the Gold Coast with values going nowhere

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The Queensland building boost began under the previous state government last August, with the usual fireworks and rockets, and a promise of help for the housing industry.  Oh…..that is way too tame; it was really a political wedge to shut up the development industry.  And it worked a treat.

The grant was promoted as a panacea that would lift demand and help get more new development underway.  Too many believed that would be the case, with some – even in the development industry – calling for the boost to be extended.  And it was.

To facilitate the anticipated building blitz, the then government set aside $140 million to fund the boost.  That’s help for up to 14,000 housing starts across the state per $10,000 grant.

But as we have constantly reiterated, building grants and the like are not always the answer.  Often, as with the first-home owners’ grant, they can be inflationary and/or fail to provide the promised outcome.

The boost finished at the end of April, and unfortunately, along the way, housing starts in Queensland had dropped.

In fact, the latest ABS building approval figures, out this Monday, show that Queensland dwelling starts totalled just 26,515 for the year ending March, compared with 29,210 new housing commencements for the 12 months to March 2011.  So we got 10% fewer houses built across Queensland, despite the boost.

While there was a flurry of applications in Queensland as the boost drew to a close, the number of dwelling starts was disappointing, to say the least.

As at April 19 – the latest figures we can get – only 8,929 building boost applications had been received by the Queensland government, and 6,367 approved.  That’s just $64 million worth of grants out of the $140 million allocated.

So what can be done?

Well, dropping interest rates isn’t the answer.  I wouldn’t be surprised if Christmas crackers featured a new lame joke this year.  Q: “How many interest rate drops does it take to stimulate the housing market?”  A: “More than you have available.”  OK, I won’t give up my day job!

It will also take much more than dropping the sustainability declaration form and reinstating the stamp duty rebate on second-hand Queensland property purchases to get things moving again.

In fact, we have argued that what Queensland should do to help nudge new housing starts is to <a href="https://www.propertyobserver.com.au/tax/queensland-needs-stamp-duty-reductions-to-level-the-playing-field/2012022853606" target="_blank">remove stamp duty off new sales</a> and keep the existing taxes on established property as they exist today.  However, this would involve breaking an election promise and Queensland maybe isn’t in a budget position to do this yet.  But it will need doing – the sooner the better –  and hopefully before the LNP’s second term.

So what else can be done in the meantime?

The first bit of property-related legislation that should be ripped up is the Property Agents and Motor Dealers Act.  The whole concept of PAMDA was flawed from the start.  Twelve years have now passed since it was introduced and it needs immediate repeal.  In today’s internet world, it is an archaic piece of legislation.

In particular, and if nothing else is done during the LNP’s first term, please burn Form 27c, which requires all real estate agents in Queensland to list how much they charge for commissions.  Valuers, on instructions from the mortgage insurers and banks, are deducting the amount the agent is paid in excess of the standard Queensland sale fee of 2.5%.  The 27c is a product of the Gold Coast fly-in, fly-out marketing of 25-plus years ago.  It only applies to Queensland and, <a href="https://www.propertyobserver.com.au/developments/a-tale-of-two-queensland-buildings-an-investment-property-s-worth-should-be-determined-by-income/2011111552374" target="_blank">as we argued late last year</a>, the distribution of costs should have no bearing on the end value of a product.

PAMDA, and especially Form 27c, are deterrents to investment in Queensland.  If the state government really wants to regulate real estate and development, then all parties involved in the property industry – architects, planners, builders, lawyers, quantity surveyors etc. –  should be subject to disclosing their costs.

The state has no right to dictate a maximum selling fee on property, just like they have no right to dictate what a lawyer or architect charges for service.

The second thing that needs be done is reinstating state government subsidies to local government for municipal infrastructure. Queensland’s mining industry started 40-odd years ago; it isn’t a recent occurrence.  The wealth created from such activity used to be redistributed via infrastructure subsidies.  This made residential development relatively cheap – well, cheaper than interstate.  This was a key competitive advantage for Queensland.

In short, cheaper new housing encouraged interstate migration to Queensland.  It created employment and wealth, too, and was all based on subsidised municipal infrastructure.

In order to close a budget gap, Queensland Labor stopped these subsidies.  This made the price of new development land very expensive as it bore the full cost of infrastructure associated with it (and often beyond!).  Council charges on land rose dramatically too.  This, more than anything, is killing new residential development in Queensland.  It will remain dead unless infrastructure charges are again subsidised.

The third thing that needs doing – and for mine is why Queensland lost its AAA rating and had so many “budget gaps” – is to cut the waste. The LNP needs to remove “zombie projects”.  A commissioned audit needs to occur, but in essence many of the things that were started in the lead up to the past state election, because “they were a really good idea at the time” (i.e. they bought votes), need to be canned.

The zombie list should include regional plans; state-based planning operatives and many of Queensland’s building/planning laws.  Why, for example, can a granny flat in New South Wales be rented out to anyone, but in Queensland it must be occupied by a direct dependant?  Oh, I could create a list as long as your arm when it comes to irrelevant Queensland property-related legislation.

So in short, Can-do needs to change to Undo. 

In order to get things going, Premier Newman needs to undo quite a lot of things.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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Despite the building boost, 10% fewer houses built across Queensland, and how Premier Newman can start the uptick

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By coincidence two Noosa properties that virtually bookend the national park have been listed for sale.
One is a Little Cove holding, the other is at Sunshine Beach.
<img src="/images/stories/noosabookends.jpg">
Both vacant lots are listed through Peter Butt at Richardson &amp; Wrench Noosa.
The 9,942-square-metre Seaview Terrace, Sunshine Beach holding, known as Lion’s Head, last sold in 2002 for $4.35 million and comes with $8 million hopes. It comes with a proposed ultra-contemporary designed residence by Gavin Maddock.
The Park Road, Little Cove holding has a $4.25 million asking price, having cost $1.75 million in 1999.
It’s the original site of Coco's restaurant, consisting of two lots totalling 1,131 square metres, which Butt suggests are suitable for redevelopment as two houses or a single extraordinary home, subject to council consent.
 
 
 
 
 
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Two Noosa properties bookending national park listed

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The penthouse in the Gold Coast beachfront Jade complex has been finally offloaded by the mortgagee at somewhere between $6.5 million and $7 million, compared with its boomtime ask of $20 million plus.
It was almost a done deal too back in late 2006, with developers the Bezzina Group claiming they'd be setting an record Australian apartment price after a $20 million-plus sale price was agreed for the penthouse.
Developer Mick Bezzina, whose developments stretched over the past two decades far from his Sutherland Shire stamping ground, suggested terms were agreed with an intending overseas buyer.
But the paperwork never got to finalisation, and now six years on it’s been sold following its recent Ray White auction.
The late 2006 touted sale of the three-level unit would have snared the record from the $16.85 million off-the-plan sale in the Juniper development Soul, on the Gold Coast, set in October 2006.
The Soul buyer, said to be a company director in the construction services industry who bought the home just 24 hours after visiting the display centre,<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/gold-coast-soul-penthouse-on-market-as-it-nears-overdue-completion/2012042354395" target="_blank"> is seeking offers through Ray White, with construction nearing its conclusion</a>.
In Sydney Aussie founder John Symond's Walsh Bay sub-penthouse had held the 2006 record when it sold for $16.1 million in September 2006.
The Walsh Bay apartment has 520 square metres of living space plus a 140-square-metre balcony and two boat berths. The Walsh Bay sale broke the $15 million record set by broadcaster John Laws for an apartment at Woolloomooloo Wharf in 2004.
“People see value at prices now,” the Ray White agent Andrew Bell said, commenting on the Jade penthouse sale last week.
Title Tattle recalls the party that accompanied Bezzina's onsite launch in December 2006 in the then near-completed $96 million complex.
The Bezzina Group paid $17.5 million for the site four years earlier and had Bezzina's in-house architect Vic Lake worked with Brisbane architect Scott Peabody from Planit Architecture on the design of the 15-level, 16-pool complex set on the Northcliffe Terrace, close to Q1.
It comes with a distinctive Ticu Gold blade on its roadside exterior with the photovoltaic cells embedded in the blade envisaged as providing a power source for the common property.
The party went late into the night as Bezzina had truly capitalised on the then bullish Gold Coast market with all but two – priced at $5.9 million – of the 12 apartments reportedly sold pre-completion, with prices reportedly starting from about $5 million plus each.
It had also sold both the ground-floor beach bungalows for about $12 million each.
The world No. 4 ranked golfer Adam Scott was the known only off-the-plan buyer. He paid $4.4 million off the plan in 2004, and during his many attempts to sell over the past few years he has dropped his indicative asking price to below $3 million for the garden apartment.
The only time a price has gone up when Toni Lewis, the widow of Bernard, the Lewis Land Corp founder, spent $5.5 million on her apartment in 2008. The unit fetched $4.7 million off the plan in 2004 when sold by the Bezzina Group.
Late last year Toni Lewis's daughter Marnie picked up a unit at $2.5 million, which was the cheapest sale by the mortgagee, who took control in November 2008 with some six off-the-plan settlements never taking place.
All 16 units now sold and the gross proceeds total about $70 million.
The Jade penthouse sold through Ray White Paradise Waters agents Michael Willems and Robert Graham.
 
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Jade penthouse on the Gold Coast sold by mortgagee for a third of dashed boomtime hopes

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Demand for the $10,000 Queensland building boost has picked up strongly since the scheme was extended in January, but it could close with as much as half of the funding set aside for the scheme unclaimed by new home buyers and builders.
The scheme will close on April 30, <a href="https://www.propertyobserver.com.au/residential/queensland-government-to-extend-building-boost-until-april/2012011253029" target="_blank">having been extended</a> from the original closure date of January 31.
In the three-month period from January 11 to April 19, the Queensland Treasury has received more than 5,000 applications, taking the total to 8,929 applications.
As of April 19 the Queensland Treasury has approved 6,367 grants worth $63.6?million, according to figures obtained by the Australian Financial Review.
This is less than half of the $140 million originally set aside by the Bligh government when it was launched on August 1 as an incentive aimed at boosting the housing market in the wake of the January 2011 floods and GFC.
However, this figure could potentially rise above 50% should the remaining applications be approved and should the scheme receive more applications between now and September 1.
New home buyers and builders must sign a contract by April 30 but have until September 1 to submit their application to qualify for the $10,000 grant.
In August 2011, the first month of the scheme there were only 100 applications, and fewer than 600 in September.
The Newman government is set to announce new initiatives to help the struggling property market when it releases its budget on September 11.
These will include reinstating a $7,000 stamp duty discount for existing home owners who buy a new home from July 1, and the discount will cost the government $900 million. The scheme was scrapped by the Bligh government last year.
New Treasurer Tim Nicholls has called the building boost a botched scheme that provided no real benefit to the housing sector.
“The fact that under half of the $140 million originally allocated in the scheme has been paid out in grants is a clear indication it was a poorly targeted and designed scheme,” he says.
However, Property Council of Australia Queensland executive director Kathy MacDermott says the scheme had helped and was desperately needed.
MacDermott says the scheme had been affected by low consumer sentiment and cautious buyers.
In addition she says the Queensland housing market is being dragged down by lower property valuations by banks, which makes it harder to secure financing.
The building boost is one of <a href="https://www.propertyobserver.com.au/resources/government-property-grants-and-stamp-duty-concessions-the-expiry-dates-you-need-to-know/2012041054208" target="_blank">six state housing incentive schemes</a> that will come to an end over the next few months.
According to a CommSec report, Queensland has the fastest economic growth rate in Australia of 9.8% but is being held back by a weak housing market.
 
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Rise in demand for barely utilised Queensland building boost comes too late

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Real estate agents selling and leasing properties in Dysart, a small town in Queensland’s Isaac region, expect some reduction in house prices and rents following BHP Billiton’s decision last week to shut down the nearby Norwich Park coal mine indefinitely. 
The mine is about 15 kilometres south of Dysart and according to BHP has been losing money for “several months”. 
The closure of the mine will directly affect 490 mine employees and up to 1,000 people when including contractors. 
However the mining company has said that it will aim redeploy as many employees to the Saraji Mine, about 26 kilometres north of Dysart “to enable, where possible, those employees and families to remain living in Dysart”. 
The town has a population of about 3,100 people, according to the Isaac Regional Council. 
Julie Williamson from Julie Williamson Real Estate told Property Observer she expects a “huge impact on the market” as a result of the mine closure.
“It will free up a lot of rentals, which will bring the rental market down, which in turn will bring house prices down.
“I believe this will last for a few months, but we know there is still a lot of future employment throughout the other mines.  Hopefully, in the not-so-distant future the market will start to rise again,” she says.
Another local agent pointed out that no miners had lost their jobs and that the mine was relocating people to the Saraji Mine.
“It’s not as bad as the media are beating it up. It’s business as usual. The shops are full – there are no vacant shops,” the agent says.
“People like Lawsie (John Laws) are talking about people losing their job, when no one has lost their jobs yet,” says the agent.
However, she accepts that rents and prices are likely to fall back a little.
“They’ll only crash if people start panicking.”
“The market has been strong up until now… It will only plateau out.”
Hotspotting.com.au director Terry Ryder says it is as yet unclear whether BHP is serious about closing the mine, “or merely using the threat as a negotiating weapon with the unions, who have been making life difficult there for the past 18 months”.
“They are doing the same with rents in Moranbah, refusing to sign up for any more house tenancies until landlords drop their rents.
“But it all emphasises the high risks involving in investing in mining towns – the growth rates and rental returns can be enticing, but the risks are high in markets based on a single industry and often a single powerful employer, like BHP,” says Ryder.
Rents in Dysart start from around $800 per week for a three-bedroom house to as much as $1,800 per week for four-bedroom houses providing double-digit rental yields for investors.
Figures compiled by RP Data show that nine houses in Dysart have been sold since the start of the year, with prices ranging from $374,000 to $695,000.
Among the nine properties to sell this year was this five-bedroom house at 44 Beardmore Crescent (pictured below), which was sold for $695,000 to a Sydney investor from Mona Vale in January.
<img src="/images/stories/dysart1.jpg" width="470">
The property was listed for rent by Vision Real Estate Consultants Mackay asking $2,500 per week. 
It was rented out last week at a slighter reduced rent of $2,400 – equating to a yield of almost 18%. 
A five-bedroom house on Brock Crescent (pictured below) which sold to a local Dysart buyer for $579,000 is currently available for rent at $1,600 per week (a yield of 14%), with the listing also held by Vision Real Estate Consultants Mackay.
<img src="/images/stories/dysart2.jpg" width="470">
According to RP Data, Dysart house prices rose 13.6% in 2011 following strong gains in 2008 and 2009. 
RP Data puts the Dysart median house price at $680,000, compared with $437,000 in March 2011 with growth of 13.6% recorded. 
Facilities in the town include a $5 million sports complex including an Olympic-sized swimming pool, a shopping mall, a nine-hole golf course and bowls club, and a Community Civic Centre owned and maintained by Isaac Regional Council.
 
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Mine closure expected to bring down rents and prices in Dysart, Queensland: Agents

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Construction has begun on the new Sandpiper development on Hastings Street at Noosa.
Just three full-floor apartments and two retail shops will be built on the site.
<img src="/images/stories/sandpip.jpg">
R&amp;W Noosa co-principal Peter Butt <a target="_blank" href="https://www.propertyobserver.com.au/queensland/sale-of-%2414-million-apartments-as-tide-turns-for-better-in-noosa/2011072650927">has already sold two of the apartments</a>.
The penthouse pricing has been revised to $9.25 million, down from its $10 million hopes last July.
Overlooking Laguna Bay, Sandpiper is positioned in the centre of the busy main street. There are also view lines to First Point as well as the Noosa North Shore and river mouth.
<img src="/images/stories/sandpip2.jpg">
"The Noosa market has shown good signs of an early revival in recent months, and this new project on the beachfront is exactly the confidence booster the area needs," Butt told Noosa News.
<img src="/images/stories/sandpiperflicker.jpg">
Developed by a Victorian property investor, the Sandpiper construction is being undertaken by Calty Constructions with an expected mid-2013 completion.
The mid-floor apartment is under contract at $8 million and the ground-floor apartment at $6 million.
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